The RBI announced a hike in interchange fee structure for ATM transactions, starting Aug 1.



After almost nine years, the RBI announced to increase the interchange fees per transaction from Rs 15 to Rs 17 for financial transactions and from Rs 5 to Rs 6 for non-financial transactions in all centers. The new charges will be effective from August 1.

The central bank also said customers are eligible for five free transactions (inclusive of financial and non-financial transactions) every month from their own bank ATMs. They are also eligible for free transactions (inclusive of financial and non-financial transactions) from other bank ATMs, viz. three transactions in metro centers and five transactions in non-metro centers. Beyond the free transactions, the ceiling or cap on customer charges is Rs 20 per transaction.

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